Okla. Stat. tit. 70, § 70-7-104

A. In case the area affected comprises an entire school

district, and all of such area is annexed to only one other

district, the district to which it is annexed shall become the owner

of all the property and other assets of the disorganized district

Oklahoma Statutes - Title 70. Schools Page 481

and shall be liable for the current debts and other obligations of

such disorganized district, and said district shall also acquire

title to and provide for permanent custody of all individual

scholastic and other permanent records relating to each pupil who

was previously enrolled in the annexed district.

B. In case the area affected comprises an entire school

district, and is annexed to two or more districts, then the current

debts or obligations and property and other assets of the

disorganized district shall be divided by agreement between the

boards of education of the annexing districts, and the board of

education of either of the annexing districts may purchase any such

property or assets to effect a just division. If the boards of

education are unable to agree, the matter shall be decided by the

State Board of Education, and its decision shall be final.

C. In case the area affected is not an entire school district,

the district to which the annexation is made shall not acquire any

of the property or assets of the district from which the area

affected is detached, except that any school building or buildings

located in the affected area shall become the property of the

district to which the affected area is annexed and all obligations

pertaining thereto shall become the responsibility of the annexing

district.

D. If any mandatory or voluntary annexation made under the

provisions of this article shall occur after the election on school

district levies for the ensuing fiscal year and before the tax

levies of the ensuing year have been made and certified, the

operating and building levies authorized for the annexing district

shall be the levies for all the said district after such annexation.

All mandatory or voluntary annexations made and ordered subsequent

to the certification of the budgets and levies to the State Auditor

and Inspector shall be forthwith effective regardless of any

variation in such levies; and the budgetary assets of the annexed

district or districts theretofore so certified as unexpended and

unencumbered shall be merged by supplementary procedure with the

budgetary assets of the annexing district.

E. In case the area affected is annexed to two or more

districts or the area affected is not an entire school district, the

individual scholastic and other permanent records relating to each

pupil enrolled at the time of annexation shall be transferred to the

respective districts where said pupils are transferred. All other

individual scholastic and other permanent records relating to pupils

in said areas or entire districts affected shall be filed with the

county clerk of the county where supervision of the annexed school

district is located.